Principal Financial Group, Inc. (NYSE:PFG) Stake Lowered by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd trimmed its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 12.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,828 shares of the company’s stock after selling 4,204 shares during the period. UniSuper Management Pty Ltd’s holdings in Principal Financial Group were worth $2,232,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of PFG. Elo Mutual Pension Insurance Co raised its stake in shares of Principal Financial Group by 12.8% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 23,384 shares of the company’s stock worth $1,810,000 after purchasing an additional 2,656 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Principal Financial Group by 4.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 353,846 shares of the company’s stock valued at $27,568,000 after acquiring an additional 14,484 shares in the last quarter. Weaver C. Barksdale & Associates Inc. lifted its stake in Principal Financial Group by 13.7% in the fourth quarter. Weaver C. Barksdale & Associates Inc. now owns 22,900 shares of the company’s stock valued at $1,774,000 after acquiring an additional 2,760 shares during the last quarter. LPL Financial LLC grew its position in Principal Financial Group by 4.4% in the fourth quarter. LPL Financial LLC now owns 106,747 shares of the company’s stock worth $8,263,000 after acquiring an additional 4,478 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Principal Financial Group during the 4th quarter worth $6,142,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Price Performance

Shares of Principal Financial Group stock opened at $83.06 on Monday. The firm has a fifty day moving average price of $84.15 and a two-hundred day moving average price of $83.69. Principal Financial Group, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.98. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The company has a market cap of $18.74 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 12th were given a dividend of $0.75 per share. The ex-dividend date was Wednesday, March 12th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a yield of 3.61%. Principal Financial Group’s dividend payout ratio (DPR) is 44.91%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Barclays upped their price objective on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, February 7th. Royal Bank of Canada reissued a “sector perform” rating and set a $91.00 price objective on shares of Principal Financial Group in a report on Thursday, January 16th. Piper Sandler boosted their target price on Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Keefe, Bruyette & Woods increased their price target on Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, February 12th. Finally, Wells Fargo & Company boosted their price objective on shares of Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 19th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $85.92.

About Principal Financial Group

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.